Corporate Responsibility
Corporate responsibility is an important part of Føroya Banki’s objective to create long-term value for all our stakeholders, as we strive to manage our business with proper attention to social, ethical and governance issues and to contribute to financial stability and growth across the regions in which Føroya Banki operates.
CSR is also an opportunity to use our skills, expertise, knowledge and relationships to make a positive difference to individuals. Building trust, being open and approachable, and acting with integrity is vital to achieving this objective.
Føroya Banki is a source of finance and a trusted financial partner, generating financial value directly for our customers, suppliers, business partners, employees, shareholders and other stakeholders. The Bank also generates social value through the benefits the Bank’s products bring to our customers; through the taxes paid; and through the Bank’s community involvement.
We believe the Bank’s corporate responsibility initiatives will yield the best results if there is a natural connection between such activities and the Bank’s business strategy and core competences. Therefore, the Bank’s CSR activities and initiatives are strategically rooted in the Bank’s vision, strategy, and values.
Given the Group's historically strong commitment to community involvement and the desire to make a positive difference for our customers and employees, Føroya Banki's approach rests on these three pillars: our customers, our employees, and the local community.
Customers
The Group’s core values and vision evolve around the aspiration to retain our existing customers for the long term and to attract new customers by being proactive, competent, and fully committed. Our Group's corporate responsibility efforts converge naturally with our customer-centered approach to support and further strengthen confidence in our way of conducting business. As such, the customer is one of the three main pillars of our CSR-programme.
Employees
Our employees are our strongest asset and it is essential for us to attract and develop a qualified workforce in order to strengthen the Group’s competitiveness. We recognise the importance of building a working environment that aligns to the need of the individual and for our employees to maintain a healthy work-life balance. In addition, the Group seeks to arrange employee development programmes, social events, and other initiatives on a regular basis that will contribute to strengthening our corporate culture and nurturing better business performance.
Local community
Føroya Banki has been strongly anchored in our local communities throughout its more than 100-year history, contributing to the social, cultural and economic development. With the expansion of the Group’s operations in the Nordic region, we are as committed today to continue our strong local presence across the regions in which the Group operates.
Committed to sustainability
Føroya Banki supports the UN Sustainable Development Goals in pursuit of a more sustainable future
